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Montecito from 1/1/15 through 4/24/15 comparing ’15 to ’14 for the Santa Barbara area

Submitted by Gary Woods on Sun, 05/03/2015 - 12:30

In the Montecito Real Estate area of Santa Barbara for the Condo Market the total numbers of properties available through 4/24/15 is 27 compared to 16 last year for a 68% rise and the escrows are up with 5 last year compared to 14 this year for a 180% rise. There were 4 sales last year compared to 13 this year for a 225% rise and the average sales price has gone up from $925,000 to $1,467,231 for a 58% rise.

For Home Estates for Montecito Real Estate through 4/24/15 there have been 221 listings compared to 248 last year for an 10% drop but the escrows are up from 47 to 66 for an 15% rise while the sales are down from 56 to 51 for an 8% decline. The average sales price is up from $3.228 million to $4.646 million for a 43% rise.

For the PUD market in Montecito there has been 3 listings this year compared to 2 last year and there have been 2 escrows compared to 2 last year and there have been 2 sales this year compared to 2 last year and those 2 sales this year had an average sales price of $1,800,000 while the 2 sales last year averaged $1,574,000.